Patricia Wells

Price Forbes, a re/insurance broker based in London, has expanded its exclusive insurance platform, Lectio, to now include construction and builders risk coverage. This new addition supports short-term construction projects in the U.S., Canada, and Australia, following pre-approved Lloyd’s leaders seamlessly across placements. Since its launch in April 2021, Lectio initially covered cargo, specie, financial … Read more

The city of Los Angeles has taken legal action against Airbnb, accusing the company of allowing rental prices to skyrocket during the recent wildfires that hit Southern California. The lawsuit claims that between January 7 and 17, at least 2,000 Airbnb listings in the city increased their prices by more than 10%, violating California’s law … Read more

Evette “Betty” Osuegbu, 62, from Granite City, Illinois, was sentenced to 15 years in federal prison for her part in a series of arson attacks and insurance fraud cases spanning nearly a decade. A district judge handed down the sentence following Osuegbu’s conviction on 15 counts by an East St. Louis jury after a five-day … Read more

Nearly one in four cybersecurity leaders say their companies faced attacks powered by artificial intelligence in the past year, a new survey shows. The findings highlight the rising threat AI poses to digital security as companies struggle to keep up with new risks while hoping AI can also boost their defenses. The survey, conducted by … Read more

Inszone Insurance Services has expanded its reach by acquiring Snell-Nelson Insurance Agency, a well-known firm based in Ashland, Kansas, with operations extending across Kansas and Oklahoma. Snell-Nelson, founded in 1985 by Monica Meininger, has earned a strong reputation over the past 40 years, especially in serving clients involved in farming, ranching, oil and gas, as … Read more

The Hartford is making a change in its leadership team. Prateek Chhabra will become the new chief risk officer (CRO) starting September 1. He takes over from Robert Paiano, who plans to retire at the end of the year after nearly three decades with the company. Chhabra has been with The Hartford since 2018, serving … Read more

Venbrook Group has teamed up with DB Insurance to offer a new insurance product aimed at multi-unit residential properties in California. This new coverage focuses on condominium and townhome homeowners associations and marks the first release from Venbrook’s newly formed Specialty Product Group. This product is designed especially for California property owners who have had … Read more

Progressive Corp. saw its net income more than double in the second quarter compared to the same time last year, reaching around $3.2 billion. The insurer, based in Mayfield Village, Ohio, also reported a 40% rise in net income for June alone, totaling $1.1 billion. For the first half of the year, net income climbed … Read more

State Farm is set to raise home insurance rates in Illinois by an average of 27% starting this summer. The increase will begin on July 15 for new customers and August 15 for policy renewals. In addition to the higher premiums, homeowners will be required to carry a minimum 1% wind and hail deductible, which … Read more

Insurance broker Aon has announced several leadership changes within its reinsurance division, naming Alfonso Valera as CEO of International for Reinsurance and Steve Hofmann as CEO of Americas for Reinsurance. Valera will oversee the UK, Europe, Middle East, Africa (EMEA), and Asia-Pacific (APAC) regions, while Hofmann will be responsible for North and Latin America. Alongside … Read more